Pivot, a Paris-based provider of an AI operating system for enterprise procurement, has raised $40 million in Series B funding led by Forestay Capital and Notion Capital. The platform unifies sourcing, approvals, purchasing, invoicing, payments, budgets, expenses, and reporting as an AI-native Source-to-Pay solution. The capital will expand agentic AI features and support hiring across EMEA and US markets.
AI Procurement Funding Wave Builds
The round arrives as enterprises accelerate AI adoption in procurement functions. Procure AI raised $13 million in seed funding in November 2025, while Aerchain secured $13 million in March 2026. Pivot differentiates through a model-agnostic architecture built from the ground up rather than retrofitting legacy systems.
Legacy Systems Obscure Spend Visibility
Procurement and finance teams struggle with manual workflows and fragmented tools that hide real-time spend data and vendor risks. Without structured data foundations, companies cannot deploy AI agents effectively at scale. The broader procurement software market reached $9.88 billion in 2026.
AI-Native Architecture Shifts Burden to Machines
Pivot built three architectural layers combining a system of record, system of engagement, and agentic automation. This enables custom agents via its AI Studio and an Intelligent Benchmarking Agent that surfaces savings opportunities. Unlike intake-focused tools or legacy suites, the platform emphasizes end-to-end vendor risk reduction and financial clarity.
"Pivot gives enterprises that visibility, reinforced by agentic AI that shifts the manual grind from a human burden to a machine burden."
European Syndicate Validates Procurement AI
Forestay Capital led the oversubscribed round with co-lead Notion Capital, joined by Greyhound Capital, Hedosophia, and Visionaries Club. The syndicate brings deep expertise in enterprise software and AI, signaling strong conviction in procurement automation as a high-growth category.
Procurement Software Market Expands Rapidly
The procurement software market is projected to reach $20.75 billion by 2034, growing at 9.7% CAGR. AI segments within procurement show even stronger momentum, with 86% of organizations planning to implement or scale AI capabilities by 2026. Pivot now processes roughly $3 billion in annual invoices across more than 25 countries.
Hiring Signals Global Scaling Plans
With the new funding, Pivot announced multiple open roles across EMEA and US markets. The company has grown to 94 employees with offices in Paris, London, Berlin, New York, Tel Aviv, and São Paulo, positioning it to capture demand from scale-ups and enterprises seeking modern procurement platforms.